The company plans to bring its data and analytics offerings to Mercury Network customers
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CoreLogic has completed its acquisition of Mercury Network from Serent Capital after purchasing the remaining 55% stake of the company.
The property information and analytics solutions provider already bought a 45% minority stake in Mercury in June. As a valuation-technology and appraisal-management platform provider, Mercury offers software that helps mortgage lenders and appraisal management companies (AMCs) manage their collateral valuation operations. More than 800 emerging and medium-sized lenders and AMCs use Mercury’s software.
“We are very excited to bring the Mercury Network team into the CoreLogic family. The acquisition of Mercury Network is a significant step in advancing our valuation solutions capabilities,” said Frank Martell, CoreLogic president and CEO. “It complements our leading FNC platform, which today serves over 100 major lenders. Together, Mercury and FNC valuation platforms allow CoreLogic to provide unmatched content, analytics and workflow solutions to over 900 lenders and appraisal management companies and 80,000 appraisal, title and property inspection professionals. Our valuation platform business is now a scaled, high-growth and high-margin business and a foundational element of our strategy to transform the valuations space in the US”
With the acquisition, CoreLogic plans to continue offering Mercury’s technology platforms and related services to its existing market. At the same time, the company plans to bring its data and analytics offerings to Mercury’s customers.
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The property information and analytics solutions provider already bought a 45% minority stake in Mercury in June. As a valuation-technology and appraisal-management platform provider, Mercury offers software that helps mortgage lenders and appraisal management companies (AMCs) manage their collateral valuation operations. More than 800 emerging and medium-sized lenders and AMCs use Mercury’s software.
“We are very excited to bring the Mercury Network team into the CoreLogic family. The acquisition of Mercury Network is a significant step in advancing our valuation solutions capabilities,” said Frank Martell, CoreLogic president and CEO. “It complements our leading FNC platform, which today serves over 100 major lenders. Together, Mercury and FNC valuation platforms allow CoreLogic to provide unmatched content, analytics and workflow solutions to over 900 lenders and appraisal management companies and 80,000 appraisal, title and property inspection professionals. Our valuation platform business is now a scaled, high-growth and high-margin business and a foundational element of our strategy to transform the valuations space in the US”
With the acquisition, CoreLogic plans to continue offering Mercury’s technology platforms and related services to its existing market. At the same time, the company plans to bring its data and analytics offerings to Mercury’s customers.
Related stories:
CoreLogic announces planned acquisition of Mercury Network
Appraised home values remain lower than owners’ expectations – study
